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The Watergate Hotel has new owners, and will reopen as an upscale hotel next summer after $125 million in renovations.
Euro Capital Properties is the new owner, according to Capital Business. They plan to charge at least $450 per night when the hotel reopens.
The Watergate will have a restaurant serving American cuisine "with a French twist," according to the report. They already have a jazzy trailer for the hotel up online.
